- Aurumin (AUN) plans to drill four diamond drill holes over 1000 metres at its Mt Palmer project in Western Australia
- The drilling will target lithium-bearing pegmatites at the project, drilling holes 250 metres in depth
- AUN will claim up to 50 per cent of direct drilling and mobilisation costs through the WA Government’s EIS
- A diamond drilling rig is expected to arrive the week commencing July 3
- AUN shares last traded at 4 cents
Aurumin (AUN) has announced plans to drill four diamond drill holes over 1000 metres at its Mt Palmer project in Western Australia.
The company reported it was targeting lithium-bearing pegmatites at the project, which resides 40 kilometres southeast of Southern Cross in WA.
“Mt Palmer is prospective for lithium mineralisation and shows great potential, remaining unfinished business for the company since we announced results from orientation drilling in June last year,” AUN Managing Director Brad Valiukas said.
Aurumin announced that it would claim up to 50 per cent of direct drilling and mobilisation costs – up to $150,000 – through the Exploration Incentive Scheme (EIS).
“The EIS funding is a competitive process and excellent recognition of the lithium potential at Mt Palmer and the work completed to date,” Mr Valiukas expressed.
A diamond drilling rig is expected to arrive the week commencing July 3, with this round of drilling testing highly prospective targets within AUN’s ‘Goldilocks’ zone.
Aurumin plans to drill vertical diamond core holes 250 metres in depth to test for interpreted broad flat-lying pegmatites.
Drilling will target geology analogous to the Mt Holland lithium deposit, located approximately 65 kilometres to the south.
AUN shares last traded at 4 cents.